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SBL Equity Finance Collateral Trader Assistant

Employer
JP Morgan Chase
Location
Charing Cross, Central London, United Kingdom
Salary
Competitive Salary
Closing date
Nov 25, 2021

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Job Role
Accounts Assistant
Sector
Finance
Contract Type
Permanent
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The Stock Borrow Loan (SBL) and Collateral Management Group (CMG) desks are part of the Equity Finance Business within the Corporate and Investment Bank. As a desk they undertake various trade structures ranging from short coverage, financing, conduit lending and the facilitation of longer-term non-standard structured deals. To support this they borrow stock from counterparties based globally and flow this stock through multiple legal entities onto the relevant risk entity. The Stock Borrow Loan Middle office's main function is to facilitate and control the end to end life cycle of Equity Borrow / Loan activity for the investment bank in EMEA. Liaison with external counterparties & traders on a day-to-day basis is the key to success. Trade support and collateral (cash and stock) management are the main functions of the team along with the control and clearance of all exceptions and cash flows that the trade lifecycle creates

Role Description

As a CMG Trader Assistant, will be responsible for understanding the various financing structures and flows of the trading desk and supporting them in successful execution. This role will be centred around inventory management and optimisation, looking at producing daily projections of collateral requirements to the desk for them to then trade off. Owning inventory management ensuring assets are successfully moved to cover all obligations, aswell ensuring all required inventory is recalled timely as required by the wider equities business. Also looking at analysing the inventory and requirements to ensure being used as optimal as possible and any opportunities to provide more efficient usage in line with collateral schedules and regulations such as RWA and LCR.



Responsibilities:

  • Working with the CMG MO team to identify and implement process improvements for additional efficiency and control, and leading the change agenda in the team.
  • Have an active role in engaging with the wider industry looking at opportunities for improving processes, whether that be through new vendors or services, or working with existing ones to drive improvements
  • Collate daily collateral requirements and projections and providing these to the trading desk for execution, then ensuring close monitoring of those projections throughout the day with the trading desk to ensure obligations are covered, with minimal excess collateral
  • Own the daily inventory management processes, booking pledges and recalls to/from triparty agents as well proving collateral for bilateral counterparties
  • Continual review of asset optimisation ensuring we are as efficient as possible in our asset usage, in line with collateral schedules as well as regulatory requirements, and analysing for any opportunities for further collateral efficiency opportunities
  • Work closely and build relationships with key stakeholders such technology, product development, QR, external vendors/agents and wider operational support teams
  • Be an active member of industry forums, as well as be lead liaison with the triparty vendors investigating and analysing technology offerings to ensure we maximise usage and challenging their development in line with our requirements.
  • Develop and produce key MIS related to CMG business, looking at optimisation stats, volumes, balances etc
  • Complete intraday / end-of-day processes to manage the risk on the books and within the processes owned
  • Work closely with Operations functions and infrastructure groups to support a 'one team approach'
  • Ensure all controls are diligently performed, completed, and signed-off on a timely basis
  • Clear and concise communication with all support teams to ensure the timely and efficient resolution of queries
  • Participate and contribute to the various strategic initiatives across the wider departments; keep improving and evolving processes and business architecture
  • Build an in-depth understanding of all trading structures from both a financial and operational perspective

This role requires a wide variety of strengths and capabilities, including:

  • Understand the SBL product and all the relevant trading structures and flow
  • In depth knowledge of collateral and its requirements
  • Experience of working with triparty vendors and working closely with trading desks
  • Strong track record of driving change and improving processes
  • In-depth knowledge of the front to back Operations process (including the key elements such as settlements, regulatory reporting, asset servicing) and facilitate issue resolution across teams
  • Understand the key elements of other infrastructure groups (i.e. Finance, Market risk, Credit risk, Operational risk, Legal, etc.) and recognize the impact of the actions of the Trade support team on these areas
  • Must have clear communication skills and an ability to use these to work collaboratively, explain, and challenge, as appropriate
  • Attention to details and sense of ownership
  • Great team player able to work in a pressurized and changing environment
  • Possess strong analytical and numerical skills, and be able to evidence examples of how used these previously to a positive effect
  • Strong problem-solving, control, and project management skills
  • Strong technical skills, especially in Excel (experience of Alteryx / Tableau a plus)
Full time
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